Home Equity Loans
- Fixed Rate Mortgage
- No lender origination fees*
- 2nd Mortgage with 10 and 15-year fixed rates (and fixed payments)
- Available for up to 90% of your home's value
- Rates based on the amount of equity you have available
*No lender origination fees when a minimum loan amount of $40,000 and maximum $100,000 is approved and for a maximum of 80% of your home's value. Accommodation- recording fees, title charges to clear or transfer liens, or indemnification due to construction on the subject property may be required. The borrower is responsible for these costs.
Payment Example: For a 10 year home equity loan for $250,000 where the existing mortgage does not exceed 80.00% of the property value.
At a 5.250% interest rate, the APR for this loan type is 5.292%. The monthly payment schedule would be:
- 119 payments of $2,682.29 at an interest rate of 5.250%
- 1 payment of $2,682.63 at an interest rate of 5.250%